Reabold Resources Share Discussion Threads

[grannyboy] 26/5/2020 13:08

Yes but the market doesn't believe it, and can only see feet being dragged..

[simon_64] 26/5/2020 13:05

3p is a massive discount to what I believe these will be.

[grannyboy] 26/5/2020 13:02

Bahamas(BPC) Announced the securing of a rig for Q4, with the resultant saving of 15%... They have no production,their share price has rose by over 18% today.. the clowns here are still humming and arrhing, prevaricating, and making excuses for not having the crew and equipment ready to roll on site, and the drilling is onshore, not offshore!!!

[theaviator] 26/5/2020 12:42

Better shares for trading so no idea why you try so hard here? This is an investors share!

[theaviator] 26/5/2020 12:41

You'll see.....

[theaviator] 26/5/2020 12:36

Simple though - this share will be 3p easy

[croasdalelfc] 26/5/2020 12:16

Rathlin had £18m cash at Dec 2019. See accounts on companies house . RBD has 60% of that . £10.8m

[soulsauce] 26/5/2020 10:24

Of course it's relevant, all this company has done so far is grow the mkt cap by increasing the number of shares and not by increasing shareholder value.

[dlm2602] 26/5/2020 10:04

Soulsauce, the number of shares is irrelevant, it is the market cap that is important and RBD with 7.1bn shares (after this dilution) will be valued at around £43m. RBD will have a 56.6% working interest WN. UJO which has a 16.7% WI has a market cap of £24m. If I want to invest in the WN project then RBD looks a much better route.

[soulsauce] 26/5/2020 09:08

dlm it says everything that 350m additional shares is 'only' 5% dilution. The thing is this is still trying to work though the plethora of previous dilutions that now see the massive number of shares that we now have.

[dlm2602] 26/5/2020 08:55

soulsauce,

350m shares is approximately 5% dilution. For that (and £1.5m cash) they have increased their exposure to WN from 40% to 56.7% i.e by nearly 42%. Clearly RBD are now greatly exposed to the result of WN but S&S have a greater knowledge of what is down there than any of us. In the last fund raise they were hoping to raise the companies exposure to WN by a similar amount by purchasing additional Rathlin shares. That didn't happen for tax reasons (sellers CGT) from what I read, but now RBD have managed to get to this shareholding through another route. Clearly if the drill bit fails then S&S will be painted as the biggest clowns in the oil industry but this is the risk we take when buying oil stocks.

[soulsauce] 26/5/2020 08:32

Seems a good deal on the face of it but the amount of shares they keep issuing is crippling for investors. Another 350m shares with only a short lock in for two thirds of the shares.
All I can say is WN better be as good as they hope and the second well come in just as big.

[dlm2602] 26/5/2020 07:59

Grannyboy.

Talk about a cup half empty! They are paying about £3.5m (Shares and cash) for 16.66% of WN. UJO own 16.66% of WN too and they are valued by the market at £24m. Ok, UJO have other assets but the jewell in their crown is WN and the other bits and bobs they have are nothing out of the ordinary (in my view). If you only ascribe £14m of their valuation to WN then that means we have acquired our additional stake at a 75% discount to the market valuation. Its a cracking deal in my view and the market should if it were rational mark RBD up at least 25% as a result. But WTFDI!

[marno17] 26/5/2020 07:35

Finally the news we've been waiting for and more, Good times!

[simon_64] 26/5/2020 07:13

Happy,happy,happy.

Now let’s rock and roll.

[bad gateway] 22/5/2020 13:00

Big worry now is they'll drop a tad more on sentiment and Andrea will snap them up to add to the portfolio.

[32campomar] 22/5/2020 13:00

Meanwhile UJO up sharply again. A mystery why RBD isn't moving

[giantpeach2] 22/5/2020 12:41

Come on!!! A few things have changed of late, oil price and corvid19 springs to mind.

[grannyboy] 22/5/2020 10:41

I can imagine it now, the Rathlin BOD just arriving for their Friday board meeting, parking their walking frames besides the giant oak table, within the cigar smoked impregnated panelled boardroom walls... But they have nothing on Capt Tom Moore, who's got more get up and go in his little finger then the whole of the Rathlin BOD!!